Mourning the Loss of a Great American Capitalist

[CSpec]

From the CATO Institute.

Mourning the Loss of a Great American Capitalist

While the big news of the day wouldn’t seem to have a public policy angle, Michael Jackson’s death allows us to remember that such phenomenal career achievements can only be possible in an economic system that rewards and harnesses talent.

The King of Pop’s creativity allowed him and his family to make hundreds of millions of dollars, yes, but it also created thousands of jobs in the music and marketing industries and brought joy to fans around the world. Whatever his personal eccentricities — perhaps, in part, as a result of them — Jackson represents a capitalit success story.

No central planner could have invented him, and no government bureaucracy could have transformed pop music in the way he did.

[Robert Hall]

And he had left behind about a 1/2 billion in debt. Wow.

[Teh Ricer Civic!]

Hmm i never really thought about the jobs that it creates.

but yeah... how can you be that bad with your finances? 1/2 a billion!?

[balthazar]

When you -at times- made a half billion in a single year, and that career peak was 20+ years ago, I can see it being possible. Not smart, obviously not prudent, but possible.

[Camino LS6]

The odd part is that sales of his releases since his death are expected to bring in twice that amount in a matter of months.

It would seem that it pays to die.

[Z-06]

Michael Jackson revives the economy. US economy set to grow a staggering 9% in the next quarter. Who is the next celebrity to go ask FEDS.

[Teh Ricer Civic!]

Michael Jackson revives the economy. US economy set to grow a staggering 9% in the next quarter. Who is the next celebrity to go ask FEDS.

[loki]

And he had left behind about a 1/2 billion in debt. Wow.

reminds me of Hammer. hehe